Why do you collect?

[TerrapinWill]

I have only been collecting for a few years, and as such my collection is not very sophisticated. But I enjoy it just the same. So I was wondering why you collect.

Seems like there are many people in it to make $$, which I am not being critical of. Also seems like the most important thing about collecting for a majority of collectors is the grade of the coin. Seems like that is the subject of more polls and threads than just about anything else, other than Ebay scams.

Does anyone collect just to have the coins, with no intention of selling them?

Just wondering....

[cpm9ball]

TW, I think you'll find that most of the members are more concerned with eye-appeal than grade. Even though there are many threads about grading, more often than not I find them to be more of a learning experience than anything else. How many times have you seen.... "Guess the grade" ......or, "What is your opinion of this AU?" .......or, "How could a TPG give this grade!" It's a form of positive reinforcement for most, and a big, big help for me.

 

My knowledge of grading is severely lacking and it keeps me from participating in many of the discussions. That doesn't mean I won't read their posts. I can learn something from them every time. It doesn't matter whether you collect 19th century, 20th century, modern coinage or anything else, the principles are still the same.

 

There is no question that "grade" should be an important aspect of any purchasing decision, but if the coin happens to be a "real stunner", you can throw grade right out the window. Eye-appeal is everything!

 

Oh, and by the way, I collect because I enjoy it. I'm not in it to make a living. You'll probably find that it is the livelihood for some of the members, here, but they wouldn't be doing it if they didn't enjoy the hobby.

 

Chris

[supertooth]

Terrapin Will, I am new to the Boards but not to collecting. Been at it off and on for 50 years now. I could spend a whole day telling you why I collect but here are a few reasons why a lot of us are hooked. First it is "the hunt". The actual looking and looking for what you want or need. Then there is the achievement of a goal. I have been working on "early" Walkers for 6 years now. But just not any grade or condition. The coins must be original and uncleaned. I ended up with a set of Fines and then one that was VF--Xf and now I am finishing an NGC Registry set in XF40 and above. I collect also as an investment to leave for my wife and kids [my son collects]. I love the challenge of buying "raw" coins and then slabbing them---cheaper that way. But, in my heart of hearts, it has always been for the beauty of the coin. What most guys call the coin"s eye appeal. Also its rarity plays a part in both the "hunt" as well as the investment potential. But there is nothing like getting one that you need where you know that only a few of them are available. Buying one like that at a bargain price makes you walk around all day on a "high". Now add one more thing to the mix----also part of the eye appeal. And that is collecting a set in which all the coins look alike [their color] within that sets" grade limitations.

Now I give you and anyone else a "warning". Coins can tend to possess you. They can be the reason why you spend no time doing other things that should be done. Why you never buy anything for yourself but a coin. It can get so bad that you "could" ignore your family responsibilities. Make sure your wife and kids and friends "ALWAYS" come first. I was lucky that I realized this before the coins totally owned me many years ago. Good luck. Bob [supertooth]

[TomB]

I think this is an excellent question, with as many unique responses as there are collectors, and a very tough question for me to answer.

 

You don't have to apologize for collecting for only a few years; we have all either been there or will be there. It would be foolhardy for me to state that I do not think of the financial implications of my collection. I have often told people to buy what they like with money they can afford to lose. In fact, that is a mantra that I have written on my web site. So, I collect with money that I don't necessarily need, but I still try to make wise buying decisions to help me down the road.

 

Easier than telling someone why I collect would be to tell them what I collect and then interpreting that. Generally, since I don't want to point out everything I look for, I try to buy problem-free, early Federal type and twentieth century spectacularly toned coins. I like the look of problem-free coinage from 150-200 years ago, think it is cool that people actually used these pieces as they were intended in commerce and am struck by the idea that someone took the time and resources to put away such pieces for future generations to enjoy. Spectacularly toned coinage is just that, spectacular. It gives me a strong, visceral response and allows me to discover new things about each coin nearly every time I look at it, depending on the lighting or the angle of view. What these have in common is superior eye appeal, in my opinion.

[nwcs]

Why I collect has changed over the years. I think right now the why is a mixture of history, appreciation for medallic beauty, investment, and enjoying something I can pass on instead of use up.

[Hoot]

Great question and responses. Much of what supertooth said rings true for me. Also, what Tom said about collecting problem free early U.S. coinage (any grade) is a great goal to set for oneself, and Chris mentioned the pervasively important eye appeal.

 

More and more, I collect to learn. Learning about coinage and history helps me make some sense of this chaotic place. I am fascinated to see what has survived the ravages of human conflict. In this context, I also like the symbology of coinage and like to know what the impetus was behind placing the various icons on coins. This latter context of history is satisfied by collecting all kinds of coinage, including world, early U.S., modern, etc., etc.

 

Series collecting for me is made interesting by considering the full context of history that the series spans. Obviously, the symbology is less compelling for each and every minute change in a particular type over time. Yet, the very aspect of minute change makes a series interesting to me, as I'm fairly detail oriented. I'm also pretty obsessive, so series or other organized collecting allows me the comfort of satisfying a bizarre need to organize.

 

I look for fullness of detail in all coins, tokens, and medals. I also like metallic luster and natural patination. Color can be quite compelling for me if beauty is imparted. Purely orignal pieces, whether toned or not, are highly attractive to me.

 

Hoot

[EZ_E]

I look for fullness of detail in all coins, tokens, and medals. I also like metallic luster and natural patination. Color can be quite compelling for me if beauty is imparted. Purely orignal pieces, whether toned or not, are highly attractive to me.

 

Hoot

 

Very well stated, Hoot et al.

 

Here is an NGC AU 50 half eagle which I just purchased. It is completely original, has great eye-appeal (even more so in person), and is so very affordable for early gold.

 

 

 

I actually prefer original, circulated gold over most mint state examples possible because every, single little flaw is magnified on uncirculated pieces. Now, I just need to find this lady's little sister in a matching grade and in originality.

 

There were c. a half a million $5 gold coins minted in 1836. It is estimated that perhaps only 2000 pieces survive with maybe 100 original pieces remaining. Most surviving examples have been baking-soda'ed to make 'em nice and shiny and purdy like. So, considering this info, don't you think that a mere $875 for this piece is an amazing price and opportunity in today's market?

[EZ_E]

Hmm, don't know why my image is not showing up...

 

1836 half eagle

 

web page

[Oldtrader3]

I was an engineer/manager for over (40) years. I think coin collecting is a project and goal oriented process similar to the processes employed in Project Management. In collecting, you can not always control the time element of acquisition but you can control other parameters such as: cost, scope, grade, appearance. You can employ these measures to assess personal achievement levels of a set or collection.

 

Many collectors employ Registry Sets as a mechanism to establish limits and goals for a particular collection. They also are useful to many as a measure of accomplishment vis-a-vis other collectors/collections. Registry Sets (for me) also can be useful to measure personal achievement of completion and scoring goals on a non-competitive basis.

[melmcbee]

I enjoy collecting coins and other antiques for the fantasies it creates. I can look at a piece and dream of a time that doesn't exist anymore. Reading about history is ok but feeling it in your hand brings it to life. Just looking in a store today at toys or any supplies will show you how cheap they are. They won't last for any length of time. But I have found old dolls, toys, tools, etc from a century ago that are in better working order. I love to dream about a time that these items were used. My father would talk about how the government would confiscate metal for the war effort. He would talk about how they hid an old tire rim because it was their toy. I live in a time of cell phones, MTV, 200 cable channels, internet etc. I am amazed at how people worked, learned, lived and loved in the past. I love to hear about coins that were buried long ago or a hoard that was found. I want to know why they buried it. I want to hear the stories.

I prefer to collect coins that are not in circulation anymore. I can only afford low grade coins that will never be in any registry but it still brings me joy. My new desire is the darkside.

 

In a nutshell, coins and other relics takes me to a time that I will never have the priveledge of knowing. I can now visit and learn of other countries through my hobbie. I may have been born in a small Georgia town but I am not limited to it.

[EZ_E]

I enjoy collecting coins and other antiques for the fantasies it creates. I can look at a piece and dream of a time that doesn't exist anymore. Reading about history is ok but feeling it in your hand brings it to life. Just looking in a store today at toys or any supplies will show you how cheap they are. They won't last for any length of time. But I have found old dolls, toys, tools, etc from a century ago that are in better working order. I love to dream about a time that these items were used. My father would talk about how the government would confiscate metal for the war effort. He would talk about how they hid an old tire rim because it was their toy. I live in a time of cell phones, MTV, 200 cable channels, internet etc. I am amazed at how people worked, learned, lived and loved in the past. I love to hear about coins that were buried long ago or a hoard that was found. I want to know why they buried it. I want to hear the stories.

I prefer to collect coins that are not in circulation anymore. I can only afford low grade coins that will never be in any registry but it still brings me joy. My new desire is the darkside.

 

In a nutshell, coins and other relics takes me to a time that I will never have the priveledge of knowing. I can now visit and learn of other countries through my hobbie. I may have been born in a small Georgia town but I am not limited to it.

 

 

Very well put, Mel! That's poetry, man... (sniff, sniff)

[michael]

superlative coin victor

[michael]

this thrread is superb

 

one of the better ones on here

 

great responsesand all true and well written and thought out

[Bruceswar]

One of the main reasons I collect is for the thrill of the hunt.... When the numismatic bug is instilled in you... it will never really leave.. even if you leave the hobby for a bit... you will always be a change checker. I for one never let pocket change go unchecked... But I collect for eye appealing coins, that will hold a good value.... Set collecting is also fun.. it gives you something to work at(Although more times than not I end up buying just a nice coin instead) I am not sure about the rest of you... but I enjoy the hunt almost as much as I do the coins.. Never know what you will find when you walk into a coin shop. I remember walking into a coin shop that must have had like 300 FS nickels all just in a book full of nickels... most were FS and I remember thinking man those are cool... they were not marked as FS... but alot clearly were... or the time when I pulled this baby raw... it was an Oregon Trail 1926 the guy had for 100 bucks... I saw it .. Liked it... Did not care what it graded... although I thought it would be high... and it came back higher than thought! MS 66!!! have a look

 

[TerrapinWill]

What an outstanding group of replies......I asked because I think I have really missed the boat. Seems from all of the threads I have read over the past year or so, a lot of collectors seem really big on value of the coin, for resale. I know some do this to support their real collection, but it just seems like so much of the talk is "if it upgrades I'll make 5x what I paid" or "guess what a big rip I had", and stuff like that. Very seldom do I read posts (though I know they are written) where someone says "I've been looking for "insert rare coin" for my type set for years" and they don't care what it's resale value is. Know what I mean/?

[supertooth]

Terrapin Will,

If you bought your wife a diamond ring for thousands of dollars----had papers as to its quality etc., would you want it to go down in value in 5 years? Even if it was an emotional or sentimental thing, you still wouldn"t want it to loose its dollar value. Your wife might think you bought a lemon. So it is with coins. Even if you bought one that finished a set and you knew that you paid too much for it, you would still hope that it catches up in value over the next 5 years. You would still "admire" it but you would never wish it to devalue over time. And remember, if you are earning a living from the coins that you buy and sell [dealer], then you "must" look at things more tightly to the cuff than a guy like me who only buys and sells when he feels like it. Also, I can "help" anyone, at anytime, for nothing if I want to. But a guy making a living at the coin business cannot afford to waste too much time for no financial gain. Also, a fellow like myself has "patience" for the most part. I can look for a coin indefinitely and just wait till it comes along. A dealer may be building a set for a customer---that fellow might need that coin NOW---why?---his client does not want to wait that indefinite period of time in order to finish his set. So the hobby can be a hobby for some of us collectors. But, for others it is a mad dash to the computer or the fax machine or the phone or whatever. Why? Because for these folks it is and must be a "business". The trick is, as with all things in life, is to slow down and smell the roses. When you find that wonderful coin, STOP---take a breathe----ENJOY IT. Marvel at it even if it is for only a few seconds----God I do hope the third party graders do this at least once in awhile----For, if you do at least this much, then you will not forget why you started with the coins in the first place. Bob [supertooth]

[TerrapinWill]

I absolutely see that point. I guess my question is why is so much discussion about submitting, resubmitting until you get the grade....and big "rips"....doesnt anyone collect simply for the pleasure of it?

[TomB]

I read these boards everyday and I think you have the "flavor" of them mixed up with the PCGS boards as there is very little of what you seem to dislike here on the NGC boards. Of course, there are also many fewer threads and posts, so there is likely to be fewer of a lot of things here.

[Calypso]

I am a collector by nature, love art and history and coins bring these to life for me, they make it real rather than an abstraction. I also collect books.

When I first began coin collecting it was to complete a specific series such as Morgans or Walkers etc. I didn't find this satisfying as there wasn't enough variety of design types or time span within a series for me. Then I started collecting commems because of the variety of design types but these seemed too compessed over time for my tastes, I wanted a broader scope of history. So I kept a handful of favorite coins including one CC Morgan, my PanPac and Lafayette dollars (Love those!!!), some California fractional gold a few type coins, sold everything else and have now started over.

I want to collect history as told through coinage, that is now my goal, that's why I still collect. I look for attractive coins of a specific type representing a certain era in our history, learn why the coin was designed that way, what was the artists intent and what influenced the denomination to begin or end. I suppose this is why the only complete series I still collect is the Peace Dollar as a commemorative of the end of WW I, it is such a beautiful coin with an equally beautiful story, a symbolic bookend to the Mecury Dime. I plan to expand my collection to include ancients.

 

Calypso

[Oldtrader3]

I don't collect coins for the value. Value is an abstraction that is only a part of the equation as to how good a set can I realistically build. I don't sell coins very often, (my recent single downsizing being an exeception) so the value of a coin is subordinate to how well I have done in assembling the particular set or collection. I think that the goal for most collectors is quality of their collections more than the value.

[TerrapinWill]

glad to hear that...on the other forum it was "guess how much I paid for this or "guess how much I ripped so and so" and oohhh I made a pop8/0 worth thousands...it was almost always about the money.

[LucyBop]

glad to hear that...on the other forum it was "guess how much I paid for this or "guess how much I ripped so and so" and oohhh I made a pop8/0 worth thousands...it was almost always about the money.

 

honey, coins is always about money!

[supertooth]

Terrapin Will,

 

Three responses to a thread may seem a lot to most. But, I see a person trying to get some answers. Since I am still trying for answers in a hobby after 50 years, I feel like somebody should try to help explain what all of us go through as the years go by. Terrapin Will---If you want to not think about the money---or the profits some may strive to make---then take the money out of the equation. Do what I tell my son [age 29] to do. Buy the coin you want---then put it with your others and promise yourself that you will never sell it for at least 10 years. Do not pay attention to what somebody else does in this business. You do what you want to do and whatever is ethical for your conscience. But hold onto that coin and any others that you buy for those 10 years. If, and it is a big IF, you purchased well, in 10 years you then look at where your coins are at and you will find that PROBABLY you will have made some money. Maybe you have completed a set or two. Then again you can judge if you want TO FORGET THE MONEY AGAIN and put them aside for another 10 years. You can then do this until you die and then leave your heirs the decision of what to do with the coins to them. You will never EVER let money affect your collecting or your hobby. But, best of all, you will NEVER be affected by how others think or act. However, like myself with my early Walkers, I bought one coin at a time. Did not think too much about the money as I was going along. But, after just 25 coins over 6 years in that one set, I deceided to sum total what I had spent---keep updating your records all the time if for no other reason than helping your heirs. Well, I had almost 16,000 in just those 25 coins. Then you MUST recognize that your hobby is indeed an investment. And that the MONEY will always be there in some respects. Now, if you are wealthy, it will not matter. But, if you are a normal middle class guy, even just 16 grand will make you think at least a little. Now, just one more thought. If you do not want to be part of the re--submitter thinking----if I get it to go just one point higher, then I can make so much more money---then ignore again those people who are taking part in that. Do not buy or sell in that type of mentality. Stay completely away from those type of coins. Collect Vf or XF or AU coins. Collect the stuff that is usually not involved in the MS66 is worth 4 grand but a MS67 is worth 8 grand. Well, that is the very best that I can do for you. Bob [supertooth]

[cpm9ball]

Terrapin Will,

 

Three responses to a thread may seem a lot to most. But, I see a person trying to get some answers. Since I am still trying for answers in a hobby after 50 years, I feel like somebody should try to help explain what all of us go through as the years go by. Terrapin Will---If you want to not think about the money---or the profits some may strive to make---then take the money out of the equation. Do what I tell my son [age 29] to do. Buy the coin you want---then put it with your others and promise yourself that you will never sell it for at least 10 years. Do not pay attention to what somebody else does in this business. You do what you want to do and whatever is ethical for your conscience. But hold onto that coin and any others that you buy for those 10 years. If, and it is a big IF, you purchased well, in 10 years you then look at where your coins are at and you will find that PROBABLY you will have made some money. Maybe you have completed a set or two. Then again you can judge if you want TO FORGET THE MONEY AGAIN and put them aside for another 10 years. You can then do this until you die and then leave your heirs the decision of what to do with the coins to them. You will never EVER let money affect your collecting or your hobby. But, best of all, you will NEVER be affected by how others think or act. However, like myself with my early Walkers, I bought one coin at a time. Did not think too much about the money as I was going along. But, after just 25 coins over 6 years in that one set, I deceided to sum total what I had spent---keep updating your records all the time if for no other reason than helping your heirs. Well, I had almost 16,000 in just those 25 coins. Then you MUST recognize that your hobby is indeed an investment. And that the MONEY will always be there in some respects. Now, if you are wealthy, it will not matter. But, if you are a normal middle class guy, even just 16 grand will make you think at least a little. Now, just one more thought. If you do not want to be part of the re--submitter thinking----if I get it to go just one point higher, then I can make so much more money---then ignore again those people who are taking part in that. Do not buy or sell in that type of mentality. Stay completely away from those type of coins. Collect Vf or XF or AU coins. Collect the stuff that is usually not involved in the MS66 is worth 4 grand but a MS67 is worth 8 grand. Well, that is the very best that I can do for you. Bob [supertooth]

 

Great philosophy, Bob!

 

Lucy............. "You may be wrong, but you may be right."

 

Chris